The 2022 Income and Wealth Tax Campaign kicks off on 11 April with the filing of returns online, in accordance with the Tax Agency’s taxpayer calendar.
This year’s Income Tax Campaign, which corresponds to the income obtained in 2022, will run from 1 to 30 June in the ordinary way, but previously, from 11 April, the first Personal Income Tax and Wealth Tax returns can already be filed via this link, a means already used by nine out of every ten taxpayers.
From 5 May until 30 June, taxpayers can also file their personal income tax returns by telephone, and between 1 and 30 June, coinciding with the ordinary tax campaign period, taxpayers can file their returns at the Tax Agency’s offices. If the result is to be paid by direct debit, the deadline is 27 June.
The Tax Agency has already enabled the downloading of tax data and part of the information content for the next 2022 Income Tax Campaign, with the aim of speeding up the filing process.
What’s new in this Campaign
Among the new features of this Campaign is that the maximum individual contribution to private pension plans with the right to deduct personal income tax is reduced to 1,500 euros per year.
On the other hand, the maximum contributions to company plans with the right to deduction will rise to 8,500 euros by 2022. Between the two, the total contribution with tax benefits remains at 10,000 euros per year.
In the case of economic activities in objective assessment, the general reduction on the net yield of modules is increased from 5% to 15% for the 2022 tax period, a measure applicable to all taxpayers who determine the net yield of their economic activity in accordance with this method.
In addition, for agricultural and livestock farming activities, in order to compensate for the increase in the cost of certain inputs, the previous net yield may be reduced by 35% of the purchase price of agricultural diesel and 15% of the purchase price of fertilisers, in both cases necessary for the development of these activities.
Likewise, in the 2022 tax period, the corrective indexes for feed purchased from third parties and for crops on irrigated land that use electrical energy for this purpose will also be applied.
Effects of changes in Personal Income Tax in the Autonomous Communities
Also to be taken into account when filing the tax return are the modifications to the personal income tax scales approved retroactively for 2022 by some autonomous communities, with the aim of mitigating the price rises registered throughout the year.
In addition, in this Campaign, the Tax Agency has enabled a box within the filing of the tax return form to record the gains and losses derived from the transfer or exchange of virtual currencies.
New section for declaring cryptocurrencies
The most noteworthy modifications within capital gains and losses also include the breakdown into three sub-sections of the section called ‘Capital gains and losses derived from transfers of other capital items’.
One, to declare those derived from the transfer of real estate and rights in rem over real estate; another, to declare transfers or exchanges of virtual currencies and a residual section for ‘Other capital items’.
All of this, according to the Tax Authorities, with the aim of facilitating the completion of these sections, since in previous forms a code had to be filled in to identify the type of asset item being transferred. In addition, the separation into specific sub-sections makes it possible to individualise the specific boxes of certain assets for the calculation of the capital gain.